Global wind power market - statistics & facts

In recent years, the wind energy market has been stabilizing and transitioning to a market-based system, which may leave some policy gaps in some regions of the world. Wind energy has become a competitively priced source of energy in most markets around the world. In 2021, the weighted average cost for installed onshore and offshore wind stood at 1,325 and 2,858 U.S. dollars per kilowatt, respectively. Improved cost effectiveness of other renewable sources, innovation in storage systems, and improved grid management is further pushing the likeliness of achieving a fully renewable power sector in the near future.

Wind power worldwide

China is the leading country in terms of newly installed wind power capacity and in cumulative wind capacity. The United States wind market will remain strong over the next few years as the project pipeline continues. Corporate purchases of both wind and solar energy from major corporations are also continuing to fuel wind energy in the United States. Wind energy installations and planned projects are also strong in emerging markets. Wind energy continues to be one of the fastest growing energy sources in the world. As of 2021, the wind power capacity installed worldwide reached 837 gigawatts.

Types and sizes of wind turbines

There are two main groups of wind turbines including horizontal-axis type like a traditional windmill used for pumping water, as well as the vertical-axis type which has an eggbeater-style. Most modern turbines use the horizontal-axis turbine varieties. Wind turbines have steadily grown in size as manufacturers attempt to increase the potential of wind. Less than a decade ago, a large majority of onshore turbines were less than two megawatts. Today, new installed turbines range from three to four megawatts for onshore and from eight to 12 megawatts for offshore. Rotor sizes and power ratings of wind turbines tend to vary between manufacturers, however, most companies aim to reuse components to cut costs and shorten development cycles.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Lucía Fernández, Apr 12, 2024

Key insights

Global cumulative installed wind power capacity
1,021 GW
China's cumulative installed wind power capacity
395.6 GW
Growth rate of wind power capacity
10.5%
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Editor’s Picks Current statistics on this topic

Cumulative installed wind power capacity worldwide from 2001 to 2023 (in gigawatts)

Renewable Energy

Global cumulative installed wind power capacity 2001-2023

Offshore wind energy capacity worldwide from 2009 to 2023 (in megawatts)

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Global capacity of offshore wind power 2009-2023

Onshore wind energy capacity worldwide from 2009 to 2023 (in megawatts)

Renewable Energy

Global capacity of onshore wind power 2009-2023

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